La Capitol Federal Credit Union is headquartered in Baton Rouge and is the 6th largest credit union in the state of Louisiana. It is also the 568th largest credit union in the nation. It was established in 1961 and as of June of 2023, it had grown to 168 employees and 54,712 members at 15 locations. La Capitol Federal Credit Union's CD rates are 5X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in La Capitol Federal Credit Union is open to anyone through membership in the Louisiana Association for Personal Financial Achievement ($20 annual dues). Membership is open to the following: (1) those who live, work, worship, or attend school in the City of Baton Rouge or in the Louisiana parishes of Allen, Grant, Jefferson, Lincoln, Natchitoches, Orleans, Ouachita, Plaquemine, Rapides, St. Bernard, St. Charles, St. John, Terrebonne or Tangipahoa; (2) Students of University of Louisiana at Monroe, Louisiana Tech University, Northwestern State University, Southeastern Louisiana University, Delgado Community College, Nunez Community College, or Baton Rouge Community College; (3) Employed by an agency of the state of Louisiana not already covered by a credit union and to immediate family.
See current membership details
4.25% Only On First 3K Rewards Checking. 2% On Next 7K
Read the fine print before joining. Too bad that the rate is not a true 4.25% for 10K
Best Tellers Worst Banking Experience
Best tellers but worst banking experience ever. 1. Their 24 hour service is really not 24 hours. Just someone who picks up the phone, asks you all your financial information only to tell you you have to wait until the branch opens up and branch will be able to assist. 2. Even though I'm enrolled in the protection plan (where if a check goes through but the money is not in your account yet they charge the $30 NSF fee but pays the amount)... well I found out even though my money hit the next day, that's up to their discretion if they cover the cost. So I basically was charged a NSF Fee and not covered (FML). 3. After the 2016 flood, I really needed to borrow money for an emergency, of course my financial state (credit score) wasn't the best BUT IMO they could see my direct deposits, decades of banking to them and they would be the FIRST to get their money. I knew my taxes would hit in a couple weeks but this was a real emergency. Well basically got denied, luckily I was able to hold off until my taxes hit but they're not the place to go to when it comes to helping their loyal customers in hard times but have the nerve to ask me if I want to apply for a loan everytime I withdraw... um no, I already know how you all feel about less than perfect hardships why would I want to come to you when I'm doing great. 4. Imagine if they had a program that actually helped like Neighbors. Sad I went to another credit union that actually helped and not let you SINK like LaCap FCU. If you have excellent credit this is the bank for you but don't ever get a divorce and fall short they will let you DROWN. 5. Let me not forget to mention how hard it is to link my bank account to PayPal. I canceled my cards since they don't give AF and I can't even link my account to another source?! I'm so disgusted with this bank. To top all of this off, I just changed my password so I must have keyed it wrong only twice, well I'm locked out until Monday... and it's Friday, I just got paid and It's Christmas weekend. Yes FML and since I have nothing but time and no access to my cash, I'm taking the time to write this well over due review. 6. They turned off google reviews so that says more than enough for me. This is my experience.
Online Statement Of Terms Unclear
They make it sound as if all you need to do to earn 4.25% on $10K and avoid service fees is maintain an average daily balance of $1K. This is false. To get the high interest you must do 20 debits a month (or 15 if you join Bazing, which costs $5 a month). If you don't make the 20 debits, you must keep an avg. daily balance of $1K to avoid the $8 service fee. I tried to get them to clarify the rules online, but they have not done so. I closed my accounts after having blown the $20 fee to join Achieve (required for membership).
Disappointed
This is the worst agency to do business with. I don’t ever leave reviews but I am now cause this agency is horrible from the ground up. Not going to go into details cause that’s a lot of typing but I’m doing y’all a favor and informing y’all that this agency is absolutely the worse agency to do business with.. have a good day
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 14568 |
| Year Chartered | 1961 |
| Employees | 168 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.73% |
| Return on Equity - YTD | 16.06% |
| Annual Interest Income | $14.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $721.2MM$706.6MM |
| Loans | Q2 2023vs Q2 2022 | $581.1MM$559.7MM |
| Deposits | Q2 2023vs Q2 2022 | $638.2MM$611.2MM |
| Equity Capital | Q2 2023vs Q2 2022 | $77.9MM$76.3MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$1.7MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $5.7MM$2.7MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
